|
Dubai: In the period of April and June 2009 the rents have showed a decrease trend by an average of 24 per cent and 21 percent for villas and flats in Dubai.
On the other side, the property rates in Palm Jumeirah have gone up by 20 per cent.
Report published by Asteco, property service firm. It follows another study that showed rents in Abu Dhabi falling by 35 per cent.
According to Andrew Chambers, the managing director of Asteco, one of the main reasons for the decrease in rents in Dubai and Abu Dhabi is the current trend - of people working in Abu Dhabi opting to relocate to Dubai.
Chambers said that people are currently comparing rents and facilities provided by landlords then deciding where to stay.
The cheapest area to stay in a one-bedroom flat, according to the report is Dubai’s International City were rents fell by 21 per cent in the last three months to Dh 40,000 per year.
Palm Jumeriah continues to remain the most expensive as tenants are expected to pay Dh100,000.
Downtown Burj Dubai is the most expensive to rent a three-bedroom villa - those could come for Dh265,000 annually. Mirdiff is reported to be the cheapest area at Dh107,000 annually.
|
Latest News
[View all]
Maternity leave law must be reconsidered UAE
Tuesday, 27th July 2010
"The number of Emiratis is not going to grow," Dr Amal Al Qubaisi, FNC member and head of the Committee of Education, Youth Culture and Media, said.
"This is due to the fact that... | New centre for residence visa medical tests in Abu Dhabi
Friday, 21st May 2010
The Abu Dhabi Health Services Company (Seha) will open its new Disease Prevention and Screening Centre in Mussafah on Sunday.
The old facility in the same area will be shut down on the same day. The... |
|
